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A company reports the following: Net income $173,880 $12,880 Preferred dividends Shares of common stock outstanding Market price per share of common stock 23,000 $96.74

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A company reports the following: Net income $173,880 $12,880 Preferred dividends Shares of common stock outstanding Market price per share of common stock 23,000 $96.74 Calculate the company's price-earnings ratio. Round your answer to two decimal places

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